Grain Oriented Electrical Steel Market Size, Share, Trends, Industry Analysis Report: By Product Type, Thickness, Application, and Region

Description

List of Tables

The grain oriented electrical steel market size is expected to reach USD 22.71 billion by 2034, according to a new study by Polaris Market Research. The report "Grain Oriented Electrical Steel Market Size, Share, Industry Analysis Report: By Product Type, Thickness, Application (Transformer, Power Generator, Electric Motor, and Others), and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Market Forecast, 2025-2034" gives a detailed insight into current market dynamics and provides analysis on future market growth.

The grain oriented electrical steel market refers to the demand and supply of specialized steel sheets used in transformer cores and electrical equipment, designed to improve energy efficiency and reduce power loss.

The global shift toward renewable energy sources such as wind and solar power is driving the demand for grain oriented electrical steel. Renewable energy systems depend on efficient power transmission and generation systems to convert and distribute energy. Wind turbines and solar power systems require transformers and electrical motors that use grain-oriented electrical steel to optimize performance and reduce energy losses. Countries investing in clean energy continue to increase the need for this specialized steel in the production of renewable energy infrastructure, which will further boost the demand for the grain oriented electrical steels.

Technological progress in electrical equipment, such as transformers, generators, and electric motors, has created a need for higher-performing materials such as grain-oriented electrical steel. These advancements require materials that improve the efficiency and functionality of electrical systems. Grain-oriented electrical steel offers superior magnetic properties that improve the efficiency of electrical devices and reduce energy loss. The continuous development of newer and more efficient technology in power distribution and motor systems is driving the grain oriented electrical steel market growth.

Grain Oriented Electrical Steel Market Report Highlights

In 2024, transformer segment dominated the grain oriented electrical steel market. Transformers are critical for efficient power transmission, and grain-oriented electrical steel improves their performance.

The conventional segment held the largest market share due to its cost-effectiveness and dependable performance.

In 2024, North America dominated the grain oriented electrical steel market, driven by the increasing demand for energy-efficient systems and the modernization of power grids.

Asia Pacific is expected to record a significant market share during the forecast period, due to rapid industrialization and urbanization in countries such as China, Japan, and South Korea.

The global key market players are ArcelorMittal, POSCO, Stalprodukt S.A., Baosteel Group Corporation, NIPPON STEEL CORPORATION, JFE Steel Corporation, thyssenkrupp Steel, Cleveland-Cliffs Inc., Arnold Magnetic Technologies, and VIZ-Steel.

Polaris market research has segmented grain oriented electrical steel market report based on product type, thickness, application, and region:

By Product Type (Revenue - USD Billion, 2020-2034)

Conventional
High Magnetic Strength Sheets
Domain Refinement

By Thickness (Revenue - USD Billion, 2020-2034)

0.2 mm and Below
0.23 mm
0.27 mm
0.30 mm
0.35 mm and Above

By Application (Revenue - USD Billion, 2020-2034)

Transformer
Power Generator
Electric Motor
Others

By Regional Outlook (Revenue - USD Billion, 2020-2034)

North America
US
Canada
Europe
Germany
UK
France
Italy
Spain
Russia
Netherlands
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Indonesia
Malaysia
Australia
Rest of Asia Pacific
Latin America
Argentina
Brazil
Mexico
Rest of Latin America
Middle East & Africa
UAE
Saudi Arabia
Israel
South Africa
Rest of Middle East & Africa

Product Code: PM5484

1. Introduction

1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
1.2. Stakeholders

2. Executive Summary

2.1. Market Highlights

3. Research Methodology

3.1. Overview
- 3.1.1. Data Mining
3.2. Data Sources
- 3.2.1. Primary Sources
- 3.2.2. Secondary Sources

4. Global Grain Oriented Electrical Steel Market Insights

4.1. Grain Oriented Electrical Steel Market - Market Snapshot
4.2. Grain Oriented Electrical Steel Market Dynamics
- 4.2.1. Drivers and Opportunities
  - 4.2.1.1. Rising Demand for Electricity
  - 4.2.1.2. Growth in the Sales of Electric Vehicle
- 4.2.2. Restraints and Challenges
  - 4.2.2.1. High Initial Investment
4.3. Porter's Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry among existing firms (High)
4.4. PESTEL Analysis
4.5. Grain Oriented Electrical Steel Market Trends
4.6. Value Chain Analysis
4.7. COVID-19 Impact Analysis

5. Global Grain Oriented Electrical Steel Market, by Product Type

5.1. Key Findings
5.2. Introduction
- 5.2.1. Global Grain Oriented Electrical Steel Market, by Product Type, 2020-2034 (USD billion)
5.3. Conventional
- 5.3.1. Global Grain Oriented Electrical Steel Market, by Conventional, by Region, 2020-2034 (USD billion)
5.4. High Magnetic Strength Sheets
- 5.4.1. Global Grain Oriented Electrical Steel Market, by High Magnetic Strength Sheets, by Region, 2020-2034 (USD billion)
5.5. Domain Refinement
- 5.5.1. Global Grain Oriented Electrical Steel Market, by Domain Refinement, by Region, 2020-2034 (USD billion)

6. Global Grain Oriented Electrical Steel Market, by Thickness

6.1. Key Findings
6.2. Introduction
- 6.2.1. Global Grain Oriented Electrical Steel Market, by Thickness, 2020-2034 (USD billion)
6.3. 0.2 mm and Below
- 6.3.1. Global Grain Oriented Electrical Steel Market, by 0.2 mm and Below, by Region, 2020-2034 (USD billion)
6.4. 0.23 mm
- 6.4.1. Global Grain Oriented Electrical Steel Market, 0.23 mm, by Region, 2020-2034 (USD billion)
6.5. 0.27 mm
- 6.5.1. Global Grain Oriented Electrical Steel Market, 0.27 mm, by Region, 2020-2034 (USD billion)
6.6. 0.30 mm
- 6.6.1. Global Grain Oriented Electrical Steel Market, 0.30 mm, by Region, 2020-2034 (USD billion)
6.7. 0.35 mm and Above
- 6.7.1. Global Grain Oriented Electrical Steel Market, 0.35 mm and Above, by Region, 2020-2034 (USD billion)

7. Global Grain Oriented Electrical Steel Market, by Application

7.1. Key Findings
7.2. Introduction
- 7.2.1. Global Grain Oriented Electrical Steel Market, by Application, 2020-2034 (USD billion)
7.3. Transformer
- 7.3.1. Global Grain Oriented Electrical Steel Market, by Transformer, by Region, 2020-2034 (USD billion)
7.4. Power Generator
- 7.4.1. Global Grain Oriented Electrical Steel Market, by Power Generator, by Region, 2020-2034 (USD billion)
7.5. Electric Motor
- 7.5.1. Global Grain Oriented Electrical Steel Market, by Electric Motor, by Region, 2020-2034 (USD billion)
7.6. Others
- 7.6.1. Global Grain Oriented Electrical Steel Market, by Others, by Region, 2020-2034 (USD billion)

8. Global Grain Oriented Electrical Steel Market, by Geography

8.1. Key Findings
8.2. Introduction
- 8.2.1. Grain Oriented Electrical Steel Market Assessment, By Geography, 2020-2034 (USD billion)
8.3. Grain Oriented Electrical Steel Market - North America
- 8.3.1. North America: Grain Oriented Electrical Steel Market, by Product Type, 2020-2034 (USD billion)
- 8.3.2. North America: Grain Oriented Electrical Steel Market, by Thickness, 2020-2034 (USD billion)
- 8.3.3. North America: Grain Oriented Electrical Steel Market, by Application, 2020-2034 (USD billion)
- 8.3.4. Grain Oriented Electrical Steel Market - U.S.
  - 8.3.4.1. U.S.: Grain Oriented Electrical Steel Market, by Product Type, 2020-2034 (USD billion)
  - 8.3.4.2. U.S.: Grain Oriented Electrical Steel Market, by Thickness, 2020-2034 (USD billion)
  - 8.3.4.3. U.S.: Grain Oriented Electrical Steel Market, by Application, 2020-2034 (USD billion)
- 8.3.5. Grain Oriented Electrical Steel Market - Canada
  - 8.3.5.1. Canada: Grain Oriented Electrical Steel Market, by Product Type, 2020-2034 (USD billion)
  - 8.3.5.2. Canada: Grain Oriented Electrical Steel Market, by Thickness, 2020-2034 (USD billion)
  - 8.3.5.3. Canada: Grain Oriented Electrical Steel Market, by Application, 2020-2034 (USD billion)
8.4. Grain Oriented Electrical Steel Market - Europe
- 8.4.1. Europe: Grain Oriented Electrical Steel Market, by Product Type, 2020-2034 (USD billion)
- 8.4.2. Europe: Grain Oriented Electrical Steel Market, by Thickness, 2020-2034 (USD billion)
- 8.4.3. Europe: Grain Oriented Electrical Steel Market, by Application, 2020-2034 (USD billion)
- 8.4.4. Grain Oriented Electrical Steel Market - UK
  - 8.4.4.1. UK: Grain Oriented Electrical Steel Market, by Product Type, 2020-2034 (USD billion)
  - 8.4.4.2. UK: Grain Oriented Electrical Steel Market, by Thickness, 2020-2034 (USD billion)
  - 8.4.4.3. UK: Grain Oriented Electrical Steel Market, by Application, 2020-2034 (USD billion)
- 8.4.5. Grain Oriented Electrical Steel Market - France
  - 8.4.5.1. France: Grain Oriented Electrical Steel Market, by Product Type, 2020-2034 (USD billion)
  - 8.4.5.2. France: Grain Oriented Electrical Steel Market, by Thickness, 2020-2034 (USD billion)
  - 8.4.5.3. France: Grain Oriented Electrical Steel Market, by Application, 2020-2034 (USD billion)
- 8.4.6. Grain Oriented Electrical Steel Market - Germany
  - 8.4.6.1. Germany: Grain Oriented Electrical Steel Market, by Product Type, 2020-2034 (USD billion)
  - 8.4.6.2. Germany: Grain Oriented Electrical Steel Market, by Thickness, 2020-2034 (USD billion)
  - 8.4.6.3. Germany: Grain Oriented Electrical Steel Market, by Application, 2020-2034 (USD billion)
- 8.4.7. Grain Oriented Electrical Steel Market - Italy
  - 8.4.7.1. Italy: Grain Oriented Electrical Steel Market, by Product Type, 2020-2034 (USD billion)
  - 8.4.7.2. Italy: Grain Oriented Electrical Steel Market, by Thickness, 2020-2034 (USD billion)
  - 8.4.7.3. Italy: Grain Oriented Electrical Steel Market, by Application, 2020-2034 (USD billion)
- 8.4.8. Grain Oriented Electrical Steel Market - Spain
  - 8.4.8.1. Spain: Grain Oriented Electrical Steel Market, by Product Type, 2020-2034 (USD billion)
  - 8.4.8.2. Spain: Grain Oriented Electrical Steel Market, by Thickness, 2020-2034 (USD billion)
  - 8.4.8.3. Spain: Grain Oriented Electrical Steel Market, by Application, 2020-2034 (USD billion)
- 8.4.9. Grain Oriented Electrical Steel Market - Netherlands
  - 8.4.9.1. Netherlands: Grain Oriented Electrical Steel Market, by Product Type, 2020-2034 (USD billion)
  - 8.4.9.2. Netherlands: Grain Oriented Electrical Steel Market, by Thickness, 2020-2034 (USD billion)
  - 8.4.9.3. Netherlands: Grain Oriented Electrical Steel Market, by Application, 2020-2034 (USD billion)
- 8.4.10. Grain Oriented Electrical Steel Market - Russia
  - 8.4.10.1. Russia: Grain Oriented Electrical Steel Market, by Product Type, 2020-2034 (USD billion)
  - 8.4.10.2. Russia: Grain Oriented Electrical Steel Market, by Thickness, 2020-2034 (USD billion)
  - 8.4.10.3. Russia: Grain Oriented Electrical Steel Market, by Application, 2020-2034 (USD billion)
- 8.4.11. Grain Oriented Electrical Steel Market - Rest of Europe
  - 8.4.11.1. Rest of Europe: Grain Oriented Electrical Steel Market, by Product Type, 2020-2034 (USD billion)
  - 8.4.11.2. Rest of Europe: Grain Oriented Electrical Steel Market, by Thickness, 2020-2034 (USD billion)
  - 8.4.11.3. Rest of Europe: Grain Oriented Electrical Steel Market, by Application, 2020-2034 (USD billion)
8.5. Grain Oriented Electrical Steel Market - Asia Pacific
- 8.5.1. Asia Pacific: Grain Oriented Electrical Steel Market, by Product Type, 2020-2034 (USD billion)
- 8.5.2. Asia Pacific: Grain Oriented Electrical Steel Market, by Thickness, 2020-2034 (USD billion)
- 8.5.3. Asia Pacific: Grain Oriented Electrical Steel Market, by Application, 2020-2034 (USD billion)
- 8.5.4. Grain Oriented Electrical Steel Market - China
  - 8.5.4.1. China: Grain Oriented Electrical Steel Market, by Product Type, 2020-2034 (USD billion)
  - 8.5.4.2. China: Grain Oriented Electrical Steel Market, by Thickness, 2020-2034 (USD billion)
  - 8.5.4.3. China: Grain Oriented Electrical Steel Market, by Application, 2020-2034 (USD billion)
- 8.5.5. Grain Oriented Electrical Steel Market - India
  - 8.5.5.1. India: Grain Oriented Electrical Steel Market, by Product Type, 2020-2034 (USD billion)
  - 8.5.5.2. India: Grain Oriented Electrical Steel Market, by Thickness, 2020-2034 (USD billion)
  - 8.5.5.3. India: Grain Oriented Electrical Steel Market, by Application, 2020-2034 (USD billion)
- 8.5.6. Grain Oriented Electrical Steel Market - Malaysia
  - 8.5.6.1. Malaysia: Grain Oriented Electrical Steel Market, by Product Type, 2020-2034 (USD billion)
  - 8.5.6.2. Malaysia: Grain Oriented Electrical Steel Market, by Thickness, 2020-2034 (USD billion)
  - 8.5.6.3. Malaysia: Grain Oriented Electrical Steel Market, by Application, 2020-2034 (USD billion)
- 8.5.7. Grain Oriented Electrical Steel Market - Japan
  - 8.5.7.1. Japan: Grain Oriented Electrical Steel Market, by Product Type, 2020-2034 (USD billion)
  - 8.5.7.2. Japan: Grain Oriented Electrical Steel Market, by Thickness, 2020-2034 (USD billion)
  - 8.5.7.3. Japan: Grain Oriented Electrical Steel Market, by Application, 2020-2034 (USD billion)
- 8.5.8. Grain Oriented Electrical Steel Market - Indonesia
  - 8.5.8.1. Indonesia: Grain Oriented Electrical Steel Market, by Product Type, 2020-2034 (USD billion)
  - 8.5.8.2. Indonesia: Grain Oriented Electrical Steel Market, by Thickness, 2020-2034 (USD billion)
  - 8.5.8.3. Indonesia: Grain Oriented Electrical Steel Market, by Application, 2020-2034 (USD billion)
- 8.5.9. Grain Oriented Electrical Steel Market - South Korea
  - 8.5.9.1. South Korea: Grain Oriented Electrical Steel Market, by Product Type, 2020-2034 (USD billion)
  - 8.5.9.2. South Korea: Grain Oriented Electrical Steel Market, by Thickness, 2020-2034 (USD billion)
  - 8.5.9.3. South Korea: Grain Oriented Electrical Steel Market, by Application, 2020-2034 (USD billion)
- 8.5.10. Grain Oriented Electrical Steel Market - Australia
  - 8.5.10.1. Australia: Grain Oriented Electrical Steel Market, by Product Type, 2020-2034 (USD billion)
  - 8.5.10.2. Australia: Grain Oriented Electrical Steel Market, by Thickness, 2020-2034 (USD billion)
  - 8.5.10.3. Australia: Grain Oriented Electrical Steel Market, by Application, 2020-2034 (USD billion)
- 8.5.11. Grain Oriented Electrical Steel Market - Rest of Asia Pacific
  - 8.5.11.1. Rest of Asia Pacific: Grain Oriented Electrical Steel Market, by Product Type, 2020-2034 (USD billion)
  - 8.5.11.2. Rest of Asia Pacific: Grain Oriented Electrical Steel Market, by Thickness, 2020-2034 (USD billion)
  - 8.5.11.3. Rest of Asia Pacific: Grain Oriented Electrical Steel Market, by Application, 2020-2034 (USD billion)
8.6. Grain Oriented Electrical Steel Market - Middle East & Africa
- 8.6.1. Middle East & Africa: Grain Oriented Electrical Steel Market, by Product Type, 2020-2034 (USD billion)
- 8.6.2. Middle East & Africa: Grain Oriented Electrical Steel Market, by Thickness, 2020-2034 (USD billion)
- 8.6.3. Middle East & Africa: Grain Oriented Electrical Steel Market, by Application, 2020-2034 (USD billion)
- 8.6.4. Grain Oriented Electrical Steel Market - Saudi Arabia
  - 8.6.4.1. Saudi Arabia: Grain Oriented Electrical Steel Market, by Product Type, 2020-2034 (USD billion)
  - 8.6.4.2. Saudi Arabia: Grain Oriented Electrical Steel Market, by Thickness, 2020-2034 (USD billion)
  - 8.6.4.3. Saudi Arabia: Grain Oriented Electrical Steel Market, by Application, 2020-2034 (USD billion)
- 8.6.5. Grain Oriented Electrical Steel Market - UAE
  - 8.6.5.1. UAE: Grain Oriented Electrical Steel Market, by Product Type, 2020-2034 (USD billion)
  - 8.6.5.2. UAE: Grain Oriented Electrical Steel Market, by Thickness, 2020-2034 (USD billion)
  - 8.6.5.3. UAE: Grain Oriented Electrical Steel Market, by Application, 2020-2034 (USD billion)
- 8.6.6. Grain Oriented Electrical Steel Market - Israel
  - 8.6.6.1. Israel: Grain Oriented Electrical Steel Market, by Product Type, 2020-2034 (USD billion)
  - 8.6.6.2. Israel: Grain Oriented Electrical Steel Market, by Thickness, 2020-2034 (USD billion)
  - 8.6.6.3. Israel: Grain Oriented Electrical Steel Market, by Application, 2020-2034 (USD billion)
- 8.6.7. Grain Oriented Electrical Steel Market - South Africa
  - 8.6.7.1. South Africa: Grain Oriented Electrical Steel Market, by Product Type, 2020-2034 (USD billion)
  - 8.6.7.2. South Africa: Grain Oriented Electrical Steel Market, by Thickness, 2020-2034 (USD billion)
  - 8.6.7.3. South Africa: Grain Oriented Electrical Steel Market, by Application, 2020-2034 (USD billion)
- 8.6.8. Grain Oriented Electrical Steel Market - Rest of Middle East & Africa
  - 8.6.8.1. Rest of Middle East & Africa: Grain Oriented Electrical Steel Market, by Product Type, 2020-2034 (USD billion)
  - 8.6.8.2. Rest of Middle East & Africa: Grain Oriented Electrical Steel Market, by Thickness, 2020-2034 (USD billion)
  - 8.6.8.3. Rest of Middle East & Africa: Grain Oriented Electrical Steel Market, by Application, 2020-2034 (USD billion)
8.7. Grain Oriented Electrical Steel Market - Latin America
- 8.7.1. Latin America: Grain Oriented Electrical Steel Market, by Product Type, 2020-2034 (USD billion)
- 8.7.2. Latin America: Grain Oriented Electrical Steel Market, by Thickness, 2020-2034 (USD billion)
- 8.7.3. Latin America: Grain Oriented Electrical Steel Market, by Application, 2020-2034 (USD billion)
- 8.7.4. Grain Oriented Electrical Steel Market - Mexico
  - 8.7.4.1. Mexico: Grain Oriented Electrical Steel Market, by Product Type, 2020-2034 (USD billion)
  - 8.7.4.2. Mexico: Grain Oriented Electrical Steel Market, by Thickness, 2020-2034 (USD billion)
  - 8.7.4.3. Mexico: Grain Oriented Electrical Steel Market, by Application, 2020-2034 (USD billion)
- 8.7.5. Grain Oriented Electrical Steel Market - Brazil
  - 8.7.5.1. Brazil: Grain Oriented Electrical Steel Market, by Product Type, 2020-2034 (USD billion)
  - 8.7.5.2. Brazil: Grain Oriented Electrical Steel Market, by Thickness, 2020-2034 (USD billion)
  - 8.7.5.3. Brazil: Grain Oriented Electrical Steel Market, by Application, 2020-2034 (USD billion)
- 8.7.6. Grain Oriented Electrical Steel Market - Argentina
  - 8.7.6.1. Argentina: Grain Oriented Electrical Steel Market, by Product Type, 2020-2034 (USD billion)
  - 8.7.6.2. Argentina: Grain Oriented Electrical Steel Market, by Thickness, 2020-2034 (USD billion)
  - 8.7.6.3. Argentina: Grain Oriented Electrical Steel Market, by Application, 2020-2034 (USD billion)
- 8.7.7. Grain Oriented Electrical Steel Market - Rest of Latin America
  - 8.7.7.1. Rest of Latin America: Grain Oriented Electrical Steel Market, by Product Type, 2020-2034 (USD billion)
  - 8.7.7.2. Rest of Latin America: Grain Oriented Electrical Steel Market, by Thickness, 2020-2034 (USD billion)
  - 8.7.7.3. Rest of Latin America: Grain Oriented Electrical Steel Market, by Application, 2020-2034 (USD billion)

9. Competitive Landscape

9.1. Expansion and Acquisition Analysis
- 9.1.1. Expansion
- 9.1.2. Acquisitions
9.2. Partnerships/Collaborations/Agreements/Exhibitions

10. Company Profiles

10.1. ArcelorMittal
- 10.1.1. Company Overview
- 10.1.2. Financial Performance
- 10.1.3. Product Benchmarking
- 10.1.4. Recent Development
10.2. Arnold Magnetic Technologies
- 10.2.1. Company Overview
- 10.2.2. Financial Performance
- 10.2.3. Product Benchmarking
- 10.2.4. Recent Development
10.3. Baosteel Group Corporation
- 10.3.1. Company Overview
- 10.3.2. Financial Performance
- 10.3.3. Product Benchmarking
- 10.3.4. Recent Development
10.4. Cleveland-Cliffs Inc.
- 10.4.1. Company Overview
- 10.4.2. Financial Performance
- 10.4.3. Product Benchmarking
- 10.4.4. Recent Development
10.5. JFE Steel Corporation
- 10.5.1. Company Overview
- 10.5.2. Financial Performance
- 10.5.3. Product Benchmarking
- 10.5.4. Recent Development
10.6. NIPPON STEEL CORPORATION
- 10.6.1. Company Overview
- 10.6.2. Financial Performance
- 10.6.3. Product Benchmarking
- 10.6.4. Recent Development
10.7. POSCO
- 10.7.1. Company Overview
- 10.7.2. Financial Performance
- 10.7.3. Product Benchmarking
- 10.7.4. Recent Development
10.8. Stalprodukt S.A.
- 10.8.1. Company Overview
- 10.8.2. Financial Performance
- 10.8.3. Product Benchmarking
- 10.8.4. Recent Development
10.9. thyssenkrupp Steel
- 10.9.1. Company Overview
- 10.9.2. Financial Performance
- 10.9.3. Product Benchmarking
- 10.9.4. Recent Development
10.10. VIZ-Steel
- 10.10.1. Company Overview
- 10.10.2. Financial Performance
- 10.10.3. Product Benchmarking
- 10.10.4. Recent Development